South Korean youth debt is on the rise, with crypto investments leading many desperate young people to bankruptcy courts, new data shows. Per Hankyoreh, on April 5, the Seoul Rehabilitation Court released a report on debt-related cases for the Financial Year 2023. The report’s authors noted that there had been a 31% rise in “personal…
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South Korea’s Democratic Party of Korea (DPK) is eager to relax regulations on exchange-traded funds (ETFs), including those tied to spot bitcoin, despite resistance from the People Power Party (PPP). Although election concerns have temporarily halted the initiative, a crucial poll is set for April 10, and the parliament is predominantly controlled by the DPK-led…
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South Korean tax officials in the city of Pohang are set to seize crypto from 5,208 residents who failed to pay local taxes. The move is part of a national crackdown. The drive saw tax officials seize almost $29 million in coins and fiat in 2023. Per Kyungbuk Shinmun and Daegu Shinmun, the individuals have…
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Political campaigns in South Korea are leveraging the country’s prominent crypto market to attract voters ahead of the parliamentary election. Both major political parties, President Yoon Suk Yeol’s People Power Party and the opposition Democratic Party, have included crypto-related promises in their campaign platforms. The People Power Party has pledged to delay the implementation of a digital-asset…
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Metrics reveal that cryptocurrency premiums in South Korea consistently outpace the global average. As of now, bitcoin exchanges hands at $69,245 per piece globally, while on the South Korean platform Upbit, it’s being traded at $73,513 each. Additionally, March witnessed a notable increase in Upbit’s trade volume, skyrocketing by 172.25% from February’s data. Ethereum, Solana,…
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In the latest Montenegro Supreme State Prosecutor’s Office’s announcement, the legal proceedings concerning the extradition of Terraform Labs’ former CEO, Do Kwon, will revert to the first trial court. On April 3, 2024, a confidential meeting and vote resulted in the annulment of earlier judgments made by both the Podgorica Higher Court and the Court…
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Cryptocurrency trading platform Crypto.com is entering the South Korean crypto market with its app launch. “We spent significant time and resources tailoring our offering for this market and are honored to be the first and largest global cryptocurrency exchange to launch in South Korea,” said an executive of the crypto firm. ‘The First Product We…
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Crypto.com is expanding its global presence by launching its app in South Korea, slated for April 29. Following regulatory approvals, Crypto.com officially announced that its app will launch in South Korea, granting retail customers access to trade over 150 cryptocurrencies and explore exclusive non-fungible token (NFT) projects. https://t.co/vCNztATkNg App is going live in South Korea…
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Police in Gangnam, an affluent district of Seoul, South Korea, have arrested 10 people accused of stealing money in a bogus USDT OTC trade. Per Maeil Kyungjae, police say a “gang” lured a “victim” into a street in the Yeoksam Neighborhood. Officers said the gang told the “victim” and associates they would sell USDT tokens…
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South Korean politicians are accusing one another of crypto-related wrongdoings ahead of parliamentary elections in the nation on April 10. The country will go to the polls in just over a week to elect members of the National Assembly. The parliament is currently dominated by the Democratic Party. But President Yoon Seok-yeol’s People’s Power Party…
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